Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Finance Leasing Act (No. 56 of 2000) - Sect 28

Recovery of possession through court

28. (1) Where a lessor fails to recover possession of an equipment under section 27. or where a lessor has reasonable grounds to believe that it is impracticable to obtain possession under that section, the lessor ma\ make an application to the District Court within whose jurisdiction the finance lease had been entered into, for an order of possession of the equipment. (2) An application under subsection (I), shall be made by way of petition and affidavit to which the lessee shall be made a respondent, and which shall contain the following information - (a) the date of the finance lease : (b) the payments, if any, made under the lease ; and (c) the circumstances constituting the default by the (3) The petition shall be accompanied by a certified copy of the finance lease, (4) The District Court on consideration of the petition and affidavit and the documents attached thereto, and being satisfied that the petitioner is prima facie entitled to obtain possession of the equipment, shall make an interim order of possession compelling the respondent to deliver possession of the equipment to the petitioner. (5) A copy of the interim order made under subsection (4) shall be served on the respondent and- (a) where the respondent fails to show sufficient cause within fourteen days after the service of the order as to why the order should not be made permanent, the court shall make the order permanent: or (b) where the respondent shows sufficient cause within fourteen days after the service of the order as to why the order should not be made permanent, the court shall set aside the interim order. (6) A permanent order made under subsection (5), shall be executed in the same manner as if it were a decree for the recovery of movable properly,


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]